The Manitowoc Company, Inc. Announces 1-for-4 Reverse Stock Split
November 17 2017 - 10:27AM
Business Wire
The Manitowoc Company, Inc. (NYSE: MTW) announced today that
Manitowoc shareholders, at a special meeting of shareholders held
earlier today, approved a 1-for-4 reverse stock split and reduction
of the total number of shares of common stock Manitowoc is
authorized to issue from 300,000,000 shares to 75,000,000
shares.
Manitowoc common stock will begin trading on a split-adjusted
basis when markets open on November 20, 2017. Manitowoc common
stock will continue to trade on the New York Stock Exchange under
the symbol “MTW,” although a new CUSIP number (563571 405) has been
assigned to it as a result of the reverse stock split.
No fractional shares will be issued in connection with the
reverse stock split. Shareholders otherwise entitled to receive
fractional share(s) as a result of the reverse stock split will
receive cash payments in lieu of such shares.
Additional information about the reverse stock split can be
found in Manitowoc’s definitive proxy statement on Schedule 14A
filed with the U.S. Securities and Exchange Commission (SEC),
available free of charge at the SEC’s website, www.sec.gov, or at
Manitowoc’s website, www.manitowoc.com.
About The Manitowoc Company, Inc.
Founded in 1902, The Manitowoc Company, Inc. is a leading global
manufacturer of cranes and lifting solutions with manufacturing,
distribution, and service facilities in 20 countries. Manitowoc is
recognized as one of the premier innovators and providers of
crawler cranes, tower cranes, and mobile cranes for the heavy
construction industry, which are complemented by a slate of
industry-leading aftermarket product support services. In 2016,
Manitowoc’s net sales totaled $1.6 billion, with over half
generated outside the United States.
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version on businesswire.com: http://www.businesswire.com/news/home/20171117005502/en/
The Manitowoc Company, Inc.Ion WarnerVP, Marketing and Investor
Relations717-593-5266
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